Prince George’s County COVID19 Business Relief Fund
The Prince George’s County COVID19 Business Relief Fund is a $15M fund established to provide financial assistance to businesses affected by the COVID-19 crisis. The Relief Fund can be used to support cash operating expenses including payroll, suppliers, rent, fixed debt payments and other business critical cash operating costs.
County-based small businesses, with a principal business office or location physically located in Prince George’s County;
Businesses meet U.S. Small Business Administration definition of a small business
New business ventures are not eligible
For-profit business entity
Retain County jobs with a goal of hiring County residents for future vacancies.
Maintain operations in the County for the term of the loan.
Provide evidence that application for assistance has been submitted to the EIDL program and Maryland's Small Business COVID-19 Relief Fund.
Must have Personal & Corporate Guaranty
Collateral needed: UCC lien filing on business assets
Limit to $100,000; Rate 3.75%
Grants of up to $5,000 for businesses with less than 10FTEs, and $10,000 for those with more
*Application Available April 13th - May 15th*
For more information: https://www.pgcedc.com/covid-business-fund-2020